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Christmas reprieve for mortgage industry

The life industry has been granted an early Christmas present with the FSA announcement there will be no full-blown inquiry into endowment mortgage misselling

The industry feared the FSA would call for an investigation along the same lines as the multi-billion pensions misselling compensation.

But campaigners attacked the FSA for ignoring their calls for an inquiry. Consumers&#39 Association principal researcher Neil Walkling says: “There has been systematic malpractice. There should be compensation for those disadvantaged.”

The FSA responded to the calls for investigation saying: “Selling standards will be under review. Where necessary record keeping will be tightened.”


FSA rules out Isa mis-buying probe

The Financial Services Authority says it has no plans to a launch major investigation into the potential mis-buying of Isas.Investors are currently allowed to take out a maximum of three mini Isas – in cash, stocks and shares, and insurance respectively.But experts believe many people are breaking the rules by taking out more category of […]

FSA warning on high-income funds

Investors have been issued a warning on high-income investment funds by the Financial Services Authority.The alert is the second in two weeks as the regulator said investors “should not be taken in by the headline income.”The caution follows an increase in demand for high-income investment products created in the current climate of low inflation and […]

FSA move on stockmarket

The Financial Services Authority has published draft guidelines on its approach to taking over the role as the London Stock Exchange regulator next Spring.The FSA announced it will take over from LSE&#39s listing function with the continued help of the listing authority advisory bodies.It also revealed of head of the listing department at the stock […]

FSA pro-Euro stance

The Financial Services Authority has warned London could be threatened as a leading finance centre if the UK never joins the single European currency.FSA chairman Howard Davies is saying Governments committed to staying out of the Euro indefinitely might deter large financial institutions from building on their London presence.Davies says: “I think for the moment, […]

Tax-free gains? That can’t be right, can it?

When he was Chancellor of the Exchequer, George Osborne made several changes to the way in which income is taxed. Personal allowances were increased significantly above the rate of inflation; a starting rate band was introduced for savings income and, with effect from 6 April 2015, this was assessed at 0 per cent. In addition, […]


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